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Allianz completes reinsurance transaction for $35-bn U.S. fixed index annuity portfolio

Allianz Life announced today that it has completed the reinsurance agreement with affiliates of Sixth Street, including Talcott Resolution Life Insurance Company, and Resolution Life, for a $35-billion fixed index annuity portfolio. 

The transaction, announced on December 3, unlocks $4.1 billion in value and frees up regulatory capital for Allianz. 

Allianz Life continues to manage the administration of the policies in the portfolio and will remain responsible for fulfilling its obligations to policyholders. There are no changes to policy servicing, call center management, claims payments, statement generation and delivery, distribution partner experience, and digital self-service.

PIMCO and Allianz Global Investors remain the primary asset managers of the reinsured business.

The Allianz Group is one of the world's leading insurers and asset managers with 120 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 802 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage 1.9 trillion euros of third-party assets. Thanks to our systematic integration of ecological, social and governance criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index, launched on 12.11.2021. In 2020, over 150,000 employees achieved total revenues of 140 billion euros and an operating profit of 10.8 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

*Including non-consolidated entities with Allianz customers.

Press contacts

Holger Klotz
Allianz SE
Kirti Pandey
Allianz SE
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Further information

Allianz completes reinsurance transaction for $35-bn U.S. fixed index annuity portfolio

Allianz Life announced today that it has completed the reinsurance agreement with affiliates of Sixth Street, including Talcott Resolution Life Insurance Company, and Resolution Life, for a $35-billion fixed index annuity portfolio.

Allianz enters reinsurance agreement with Resolution Life and affiliates of Sixth Street for its U.S. fixed index annuity portfolio; transaction to unlock $4.1 billion in value

Allianz Life reinsures $35 billion of liabilities of fixed index annuity book in one of the largest transactions of its kind. The agreement underscores shared values of flexibility, ability to scale, risk management, and commitment to policyholders. The transaction is expected to improve return on equity and strengthen regulatory capital position for Allianz Group.

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